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Income Questions and Answers (Q&A)

John Smith
Answered: Jan 19, 2021
Currently reported net income= financial capital - comprehensive income = financial capital-the financial capital maintenance concept is the traditional basis of financial statements as well as the...Read More

1 Answer

529 views
D. Ronald, Writer
Answered: Aug 08, 2019
Wage and income are not totally referring to the same thing, but they are interrelated. Wage simply means the amount of money paid to someone for a specified quantity of work. Wages can come in...Read More

3 Answers

266 views
E. Barnes, Professional Gamer
Answered: Jul 26, 2019
Hicks and Slutsky may be confusing to people who have never tried to know more about microeconomics. If by any chance that you need to know more about this now, you should know that HIcks is the...Read More

2 Answers

217 views
Denton Perez, Professor
Answered: Dec 04, 2020
It is common to see people using the words “revenues” and “earnings’’ interchangeably, but that does not mean both are the same. Although the two terms refer to the...Read More

3 Answers

16 views
I. Klose, Accountant
Answered: Jul 08, 2020
GNP stands for Gross National Product. GNP and National Income are the two most popular terms that are often used by government officials and economists. These terms are utilized to determine how...Read More

2 Answers

12 views
T. Perez
Answered: May 20, 2020
As of now, there are two different standards of income. One would be GAAP or Generally Accepted Accounting Principle, and the other is IFRS or International Financial Reporting Standard. GAAP is...Read More

2 Answers

11 views
I. Muller, Math Professor
Answered: May 29, 2020
Although the two terms gross and net income look the same, there are some differences between the two. Gross income is the income generated before taxes are deducted. As an employee, the amount...Read More

1 Answer

7 views
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